《上市公司章程指引》 （以 下简称《章程指引》）等法律法规、规范性文件，以及《广州中望龙腾软件股份有限公 司章程》（以下简称《公司章程》）等有关规定，广州中望龙腾软件股份有限公司（以 下简称"公司"）为完善公司治理结构并保证董事会规范运作，于 2025 年 7 月 29 日召 开了职工代表大会并做出决议，选举吕成伟先生为公司第六届董事会职工董事（简历 见附件），任期自本次职工代表大会审议通过之日起至第六届董事会任期届满之日止。 吕成伟先生符合《公司法》 《章程指引》等法律法规、规范性文件以及《公司章程》中 有关董事任职资格的规定，将按照规定履行职工董事的职责。 证券代码：688083 证券简称：中望软件 公告编号：2025-039 广州中望龙腾软件股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 根据《中华人民共和国公司法》 （以下简称《公司法》）、 吕成伟，男，中国国籍，无境外永久居留权。1986 年 5 月生，本科学历，2009 年 毕业于武汉轻工大学获学士学位。2009 年 11 月至 2011 年 6 ...

当地时间7月28日，美媒报道称，今年春夏毕业的大学生正遭遇十余年来(新冠疫情特殊时期除外)最严 峻的就业市场，22岁至27岁的学位持有者的失业率已攀升至近十年来的峰值。 美国大学生群体的失业率不仅超过整体失业率水平，两者间的差距更是创下三十多年来的新高。 大学生就业遇冷的背后，当下火热的人工智能(AI)正愈发受到关注，它是否是造成这一困境的罪魁祸 首？ 形势恶化 企业的声明进一步加剧了人们的担忧，科技行业已明确将AI纳入招聘与裁员的决策考量。电子商务平 台Shopify与外语学习应用Duolingo的CEO均表示，未来招聘将以"先证明岗位无法被自动化"为前提条 件。 Meta首席执行官扎克伯格透露，公司已在借助AI工程师完成大量基础编码工作。他同时预测，未来12 至18个月内，Meta的大部分代码都将由AI编写。 微软联合创始人比尔盖茨表示，AI在编程、深度研究等领域的进步速度远超他的预期，对于大学毕业 生来说，找工作将变得更加有挑战性。不过，比尔盖茨认为，AI可能替代电话销售等简单工作，而在 人类最具创造力的领域，更多是作为辅助工具存在。同时，生产力的提升将带来积极影响，让人们有更 多机会投身更有价值的工作 ...

Group 1 - Goldman Sachs expects the revenue of nine covered software companies to improve quarter-over-quarter in Q2, driven by a rebound in customer order momentum [1] - IT spending in certain sectors, such as construction, continues to face short-term pressure [1] - The firm anticipates that Q2 earnings for software companies will remain weak, but improvements are expected in the second half of the year due to enhanced operational efficiency and workforce optimization [1] Group 2 - In the Chinese ERP sector, Goldman Sachs forecasts Kingdee International's revenue to grow by 13% year-over-year to 3.2 billion yuan, supported by improved spending from large enterprise clients [1] - The firm believes that increased productivity per capita will contribute to profit improvement for Kingdee [1] - Goldman Sachs maintains a "Buy" rating on Kingdee, raising the target price from 17.81 HKD to 18.87 HKD [1]

Core Viewpoint - The rapid development of artificial intelligence technology is creating extensive opportunities in the market, with a focus on analyzing AI concept stocks and market trends [1]. Group 1: AI Innovations - Microsoft has integrated an AI Agent, Copilot mode, into its Edge browser, enhancing user experience by automating searches and providing comprehensive results [3]. - Zhizhu has released its next-generation flagship model GLM-4.5, featuring a total parameter count of 355 billion and an activation parameter count of 32 billion, with competitive API pricing [3]. Group 2: Market Performance - On July 28, U.S. stock indices showed mixed performance, with the S&P 500 and Nasdaq reaching new historical highs, driven by Nvidia's stock performance [4]. - Nvidia's stock has surged over 170% in 2024, following a remarkable 240% increase in 2023, resulting in a valuation increase of approximately $700 billion [5]. Group 3: Nvidia's Supply Chain Dynamics - Nvidia has placed an order for 300,000 H20 chipsets with TSMC, influenced by strong demand from China [6]. - Following the lifting of restrictions on H20 sales to China, Nvidia has shifted its strategy from relying solely on existing inventory, although previous orders were canceled due to earlier restrictions [7]. Group 4: Software Provider Dynamics - AI tools are simplifying the process for companies and government clients to switch software providers, potentially impacting major software companies like Microsoft, Palantir, and Salesforce [9]. - The integration of AI tools has reduced the time and cost of switching providers by 50%, making it easier for companies to transition to new systems [10].

Group 1 - Goldman Sachs reports that Kingdee International (00268) is expected to achieve a 13% year-on-year revenue growth to 3.2 billion RMB in the first half of the year, driven by improved spending from large enterprise clients [1] - The firm believes that the increase in per capita productivity will lead to profit improvement and maintains a "Buy" rating for Kingdee [1] - Goldman Sachs has raised its earnings forecasts for Kingdee International for 2026 and 2027 by approximately 1% to reflect growth in cloud service revenue from large enterprises and a slight decrease in operating expense ratio, while keeping the current year's forecast unchanged [1] Group 2 - The target price for Kingdee International has been adjusted from 17.81 HKD to 18.87 HKD [1] - Goldman Sachs anticipates that the nine software companies it covers will see quarter-on-quarter revenue growth in the second quarter, primarily due to a rebound in customer order momentum [1] - However, certain sectors, such as construction, are still facing short-term pressure on IT spending [1] - The firm expects that software companies will improve profitability in the second half of the year as operational efficiency and workforce optimization enhance [1]

Group 1 - The software ETF (515230) increased by over 1% on July 29, indicating positive market sentiment towards the software sector [1] - According to Minsheng Securities, the proportion of holdings in the computer sector for funds is approximately 2.52% as of Q2 2025, showing a slight decrease from the previous quarter and remaining at a historical low [1] - Leading companies in the AI sector are prioritized in holdings, with a notable increase in the financial technology sector [1] Group 2 - The concentration of holdings in the computer industry has decreased, with the number of computer companies among the top ten holdings dropping to 191 from 197 in the previous quarter [1] - The top ten companies by market value account for 60.44% of the holdings, indicating a significant concentration in a few key players [1] - With the support of national industrial policies and the development of the AI industry, there is potential for further increases in AI-focused computer holdings [1] Group 3 - The software ETF (515230) tracks the software index (H30202), which primarily selects securities from companies engaged in software development, sales, and services [1] - The index constituents exhibit significant growth and innovation characteristics, reflecting the overall market performance of publicly listed software companies [1] - Investors without stock accounts can consider the Guotai Zhongzheng All-Index Software ETF Connect A (012636) and C (012637) for exposure to the software sector [1]

Investment Rating - The investment rating for the company is "Buy-A" with a 6-month target price of 104.16 CNY, while the stock price as of July 28, 2025, is 88.29 CNY [5][14]. Core Insights - The company is a leading player in the field of physical AI, having launched several innovative products and platforms aimed at various applications, including virtual training and low-altitude economy [1][4][12]. - The company has established strategic partnerships, such as with Hangshi Group, to enhance the integration of low-altitude economy and virtual training technologies [1]. - The company is expected to achieve revenue growth from 5.15 billion CNY in 2025 to 9.21 billion CNY in 2027, with net profits projected to rise from 0.79 billion CNY to 1.42 billion CNY during the same period [14]. Summary by Sections Company Overview - The company hosted a forum on physical AI at the World Artificial Intelligence Conference, showcasing its leadership in the field and announcing four major innovations [1]. - The company has developed a comprehensive physical AI platform that includes various core technologies for simulation and training [2][3]. Product and Technology Development - Key technologies include integrated generative modeling and simulation, real-time physical AI computing engines, and intelligent environmental perception technologies [3]. - The company has launched a physical AI platform that supports various applications, including a low-altitude three-dimensional physical map to enhance the safety of low-altitude flying vehicles [12][13]. Financial Performance and Projections - The company’s revenue is projected to grow significantly, with a compound annual growth rate (CAGR) of 17.6% from 2025 to 2027 [16]. - The net profit margin is expected to stabilize around 15.5% by 2027, indicating improved profitability [16]. Market Position and Strategy - The company is positioned as a leading CAE software provider, expanding its business into renewable energy, low-altitude economy, and robotics through strategic acquisitions [14]. - The company aims to leverage its physical AI platform to create new growth opportunities and enhance its market presence [14].

Group 1 - Hedge funds sold technology stocks at the fastest pace in the past 12 months, coinciding with the S&P 500 index reaching a historical high [1] - The scale of the sell-off in technology stocks was the largest observed by Goldman Sachs since July 2024, primarily concentrated in North America and Europe [1] - Almost all types of technology stocks, including semiconductor companies, software firms, and IT service providers, were sold off [1] Group 2 - Consumer staples stocks became one of the most net bought sectors by hedge funds in the recent week, marking the fourth consecutive week of increased positions, primarily in long positions [1] - The S&P 500 index has risen approximately 28% since its low in 2025, driven by strong performance in technology stocks, while the Nasdaq Composite Index surged by 38% during the same period [1] Group 3 - As of last Friday, the forward P/E ratio of the S&P 500 index was 23.11, close to a five-month high, indicating elevated valuations compared to the historical average [2] - U.S. stock valuations are currently 30% higher than the average over the past decade, with long-term interest rates remaining high and volatile [2] - The future direction of the stock market may depend on a potential decline in long-term interest rates, which has not yet occurred [2]

Core Viewpoint - Hedge funds are rapidly reducing their risk exposure to U.S. technology, media, and telecommunications (TMT) stocks at the fastest pace since July 2024, with long positions being sold off more quickly than short positions are being covered [1] Group 1: Hedge Fund Activity - Hedge funds have decreased their risk exposure to TMT stocks, particularly in the semiconductor and semiconductor equipment, software, IT services, and media sectors [1] - The pace of selling long positions has outstripped the covering of short positions, indicating a significant shift in market sentiment [1] Group 2: Upcoming Earnings Reports - The technology sector is entering a peak earnings season, with major companies such as Amazon, Apple, Meta Platforms Inc., and Microsoft scheduled to report their earnings this week [1]

Group 1 - Shenzhou Taiyue has experienced a decline for six consecutive trading days, with a cumulative drop of -3.62% [1] - The company was established in 2001 and became one of the first companies listed on the Shenzhen Stock Exchange's Growth Enterprise Market in 2009 [1] - E Fund has two funds among the top ten shareholders of Shenzhou Taiyue, with the E Fund ChiNext ETF reducing its holdings in Q2 2023 and the E Fund CSI Artificial Intelligence Theme ETF entering the top ten [1] Group 2 - The E Fund ChiNext ETF has a year-to-date return of 11.42%, ranking 1156 out of 2937 in its category [2] - The E Fund CSI Artificial Intelligence Theme ETF has a year-to-date return of 15.52%, ranking 676 out of 2937 in its category [3] - The performance of the E Fund ChiNext ETF over various periods includes a 2.88% increase in the past week and an 11.25% increase in the past month [2] Group 3 - The fund managers for the E Fund ChiNext ETF and the E Fund CSI Artificial Intelligence Theme ETF are Cheng Xi, Liu Shurong, and Zhang Zhan [4] - Cheng Xi has been managing the E Fund ChiNext ETF since May 7, 2016, and has extensive experience in various funds [4] - Liu Shurong has been managing multiple funds since July 18, 2017, and has a background in quantitative investment [7]